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Workday Strategic Sourcing

Score7.9 out of 10

16 Reviews and Ratings

What is Workday Strategic Sourcing?

Workday Strategic Sourcing supports procurement by automating source-to-contract processes, from project intake to supplier management, and by surfacing contract obligations. It leverages Workday AI to provide insights and conversational tools that help teams identify savings opportunities and mitigate supplier risk.

Media

Screenshot of Workday Strategic Sourcing Contract Lifecycle Management
Screenshot of Workday Strategic Sourcing Supplier Relationship Management
Screenshot of Workday Strategic Sourcing Strategic Sourcing Dashboard
Screenshot of Spend Management

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Screenshot of Workday Strategic Sourcing Contract Lifecycle Management

Improve contract management with easy-to-use Workday Strategic Sourcing!

Use Cases and Deployment Scope

Workday Strategic Sourcing integrates with Workday Financials which feeds contract information, supplier information, and FDM information such as spend category and cost center. We primarily use it for contract management, which helps solve pipeline issues that we've had in the past.

Pros

  • Contract Pipeline
  • Contract Management
  • Supplier Onboarding

Cons

  • Integration with Workday
  • Dimensionality Management

Return on Investment

  • Contract Management has saved a ton of time and energy
  • Reporting has been helpful
  • Spend management has improved over time

Other Software Used

Workday Adaptive Planning, Workday Financial Management

Scout RFP to facilitate RFP response collaboration

Pros

  • Easy to transfer information with the company initiating the RFP
  • Easy to navigate to items that aren't answered on the RFP
  • Easy to share and collaborate among internal teammates

Cons

  • No way to flag where I need an internal colleague to review or add to an answer
  • No way to assign items to an internal team member for that person to answer a question
  • No status bar of the remaining items not yet answered

Return on Investment

  • Ease of responding to RFPs and winning business
  • I don't have visibility into whether we have an actual $$$ of deals closed where we responded to the RFP within Scout RFP
  • Other departments of my company may use Scout RFP for sending out RFPs and collecting RFP responses, thus reducing costs to issue RFPs

Alternatives Considered

RFPIO

Other Software Used

Zoom, Cisco Webex Meetings, Google Hangouts Meet